The retreat from London’s financial centre has seen Canary Wharf Group seek to reduce its reliance on banks by reinventing itself as a hub for life sciences while also developing residential and retail space.
Sir Nigel’s appointment will be his first major role since stepping down as chief executive of Legal & General last year after more than a decade in charge.
When he ran L&G, Sir Nigel pioneered a strategy of “inclusive capitalism” which sought to benefit society as well as deliver financial returns through the FTSE 100 company’s investment activity.
It saw the 188-year-old insurer use its own balance sheet to invest in science parks, tech startups and student accommodation.
Although praised by politicians and ESG advocates, not all of L&G’s inclusive capitalism projects were successful.
L&G closed its modular homes business, which aimed to solve the housing crisis through factory-built properties, in 2023 after seven years of heavy losses.
Sir Nigel was replaced by António Simões, the former head of Santander’s European business, in January. Last week, Mr Simões outlined plans to overhaul the insurer.